If you follow the story behind the creation and growth of JD.com, you will notice that there are various things that you have to focus on when you want to grow your business. Just as Richard Liu Qiangdong changed his small shop in a little known town in China to a worldwide empire, you can also follow several principles to ensure that you do not remain stagnant in your investment. Liu sold magneto-optic products and had almost no customers to sustain his business. But he eventually found more than he dreamed of.
Changing your platform
Richard Liu had to change his business platform to get the number of customers that he wanted. He did not stick to his small rented shop. Instead of doing that, he chose to go online by creating an e-commerce website. Through the internet, he could reach people beyond his local town. His goods were now displayed to the entire world. Therefore, if you feel like you are stuck, think about the medium that you are using to sell. Maybe, it is that medium that is hampering your growth and therefore, it may be time to switch to something different.
Finding the right partners
After creating a website and listing his products, Richard Liu Qiangdong noticed that his popularity was growing, and many people wanted to be associated with his site. He did not just partner with anyone. Instead of that, he crafted a way of getting specific companies to list their products on his website. They would in return contribute to his earnings. It is true that the kinds of people that you choose will determine how successful you will be and so, you have to be careful. Always focus on partners that will add value to the company. Refer to This Article for related information.
After carefully investment and growth, Richard Liu is now among the world’s most valued people because JD.com is now over $12 million. In addition to that, he serves more than 100,000 customers from all over the world. If he had stuck to his small physical shop, he would never have realized the kind of success he enjoy today. He is an inspiration to many people who are struggling in their businesses.